UDA Debenture Issue Oversubscribed in 24 hours        
[September 25 2010]

<p>Shirajiv Sirimane 

<p>In a stamp of confidence for the ongoing urban development by the public, the Urban Development Authority debenture issue was oversubscribed in just 24 hours on Friday. 

<p>The Debenture issue was launched to raise Rs. 5 billion and it was advertised on Thursday and was oversubscribed the following day. 

<p>This was the first instance a government institution raised a debenture issue. The Bank of Ceylon was the bankers for this. 

<p>The UDA hopes to utilise this money for the building of housing and other infrastructure projects in the city.